The UK is aiming to become a scale-up powerhouse, the technology secretary has announced, adding onto the country’s ambitions to be a science and technology superpower.

Michelle Donelan, the science and technology secretary, outlined the government’s plans to increase the UK’s number of unicorns and build its tech sector.

“Now the UK is delivering on its commitment to become a Science and Tech superpower by 2030 and I believe there has never been a better time to be a science and tech entrepreneur wanting to scale-up across the UK and beyond,” the secretary said.

More specifically, the secretary is aiming to make the UK account for at least half of all new European unicorns. The UK currently boasts around a third of all European unicorns, with the Secretary saying that the UK’s $1 trillion tech sector is the largest in Europe.

Another ambition looks outside of Europe: the secretary aims to close the gap on the US and match its VC investment at share of GDP by 2023.

To accomplish these goals, Donelan is announcing the creation of a new scale-up forum.

“The forum will capitalise on government’s convening power to bring together leading figures from across our growing science and technology sector,” she said. “From innovative tech companies and business support organisations to investors and regulators.”

The forum will be starting a new pilot programme – a science and tech focussed scale-up support service – in order to help up-and-coming companies in the UK, building on recommendations from the Startup Coalition.

20 of the most promising science and tech businesses aiming to scale-up will receive targeted government support to aim them in overcoming key barriers to their high-growth ambitions.

“We will guide businesses around the obstacles and help them burst through any barrier that stops them reaching their potential,” the secretary said. “Connecting them to the best possible advice, whether that’s help with generating innovative IP, creating skilled employment, or expanding into overseas markets.”

To start the process off, the Secretary, with the support of the British Private Equity and Venture Capital Association, will host events designed to bring together some of the most promising UK businesses with lead UK investors.

Further to this, UKRI, the UK’s research and innovation body, has made a new declaration to businesses, committing to simplify and expand its support for firms.

InnovateUK is aiming to reach a million innovators by the end of the year, as well as halving the average time it takes to receive grant funding for those who apply.

In addition to this, the Secretary is reviewing recommendations provided in the Regulatory Horizons Council report, aiming to develop a support service for science and tech companies to navigate the regulatory landscape.

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“No business should be daunted by regulation – our job in government is to ensure regulation provides the clarity and the certainty that businesses in complex science and tech sectors need to navigate and go forward and grow,” Donelan said.

The Secretary also mentioned plans to make data access a government priority for the year.

“Where government can unlock opportunities to help data-driven businesses scale-up through responsible access, we will do so,” she said.

All of these new ambitions are part of Donelan’s commitment to a ‘scale-up sprint’ to kickstart 2024 with new growth for tech businesses.

“There is no silver bullet that will move the UK’s success story onto the next level overnight. It requires us to layer up our policies and deploy the right support at the right time,” she concluded.